Which of the following would be considered a valid and legally enforceable agreement?
A) An agreement to pay a legislator to vote for a particular bill
B) An agreement under which Arthur agrees to pay Barbara $3,000 to disparage the product of Arthur's competitor
C) An agreement by the seller of a service station not to enter the service station business in Ohio for a period of 30 years after the sale of his business
D) An agreement by a car salesman not to sell automobiles or automobile parts in Marin County for a period of one year after terminating his employment
D
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An auditor typically indicates in the engagement letter that the audit will result in an unqualified report on the financial statements
a. True b. False Indicate whether the statement is true or false
Which of the following statements is true of signature on a written contract?
A) The contract should be signed by the party who seeks enforcement. B) The signature of the person who is enforcing the contract is not necessary. C) The signature must appear at the end of the writing. D) A person's nickname or initials are not binding legal signatures.
If debt financing is used, which of the following is CORRECT?
A. The percentage change in net operating income will be equal to a given percentage change in net income. B. The percentage change in net income relative to the percentage change in net operating income will depend on the interest rate charged on debt. C. The percentage change in net income will be greater than the percentage change in net operating income. D. The percentage change in sales will be greater than the percentage change in EBIT, which in turn will be greater than the percentage change in net income. E. The percentage change in net operating income will be greater than a given percentage change in net income.
Which of the following organizations exemplifies communal culture?
A. Jimmy's Chicken Shack, where the wait staff all try to provide excellent customer service but steal each other's customers whenever possible B. Digital FX Studios, a small start-up where the owner and three FX artists collaborate as a group on all projects and talk openly and kindly with each other C. National Warehouse Distributors, where the physical demands of the job result in high turnover and mean employees rarely have the opportunity to interact with each other D. Web Development Productions, where programmers are empowered to solve software problems in their own unique ways but often undercut each other in order to get ahead E. Jeremiad Press, where most employees fraternize daily after work at a local pool hall but spend their time at the office developing their own editorial projects